Economy

Indian Billionaires Flee on Private Jets

Indian Billionaires Flee on Private Jets

Under the title "Indian Billionaires Flee on Private Jets Following the Spread of Coronavirus," Bloomberg Asharq reported that the escalating crisis in India due to rising COVID-19 infection rates is driving wealthy families to flee the country on private jets. With reports circulating on social media about a shortage of hospital beds and medication, high-profile Indian businessmen and others who can afford private jets, which cost millions of rupees, are booking flights to destinations in Europe, the Middle East, and the Indian Ocean.

Rajan Mehra, the CEO of "Club One Air," a private jet company based in New Delhi, stated, "It’s not just the ultra-wealthy... Anyone who can take a private jet is traveling on one." India reported 353,000 new infections on Monday, the highest daily total worldwide since the pandemic began. The country's healthcare infrastructure is under severe strain, with Bollywood stars spotted fleeing to destinations like the Maldives, while at least three Australian cricketers have exited the Indian Premier League, the sport’s premier club tournament.

Some of the impetus driving the wealthy to flee India comes from foreign countries implementing travel restrictions from the South Asian nation amid the new wave of COVID-19 cases. Canada, Hong Kong, the UAE, and the UK are among more than 12 countries imposing restrictions, while other nations are preparing to announce measures, with the Maldives set to prohibit Indians from visiting all but a few islands starting Tuesday, prompting a last-minute rush to depart.

Mehra, who previously served as the head of Indian operations for Qatar Airways, noted, "There has been a significant uptick in travel to London and Dubai before the restrictions were imposed, as well as to the Maldives before the ban announcement." He added that the cost of a one-way flight from New Delhi to Dubai reaches 1.5 million rupees ($20,000), including ground handling and other fees, and private jet operators also charge for a return flight if the aircraft is empty.

Last year, there was a similar mass exodus when India banned medical evacuation flights amid fears that the wealthy might falsely claim to need treatment to travel across the country during the lockdown after the government banned commercial services. Although prices for private flights were already high and generally not increased, ticket costs have surged. Nishant Bhatia, co-founder of "Easy Trip Planners India," indicated that availability for flights to destinations like London has become limited after a surge in "instant travel" bookings. One-way economy class flights to Dubai now cost $1,300, more than ten times the usual price, Mehra said, adding, "This shows how desperately people are trying to leave."

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